Buyers of off-plan real estate investment property at Regina Mare in Bulgaria

Regina Mare - Talk to other property buyers

If you are buying a property off plan at Regina Mare, Tzarevo, Bulgaria, Eye on Worldwide enables you to communicate with other property buyers at Regina Mare, and to share photos with each other.

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New Property Development Details:

Development Name: Regina Mare

Location: Tzarevo, Bulgaria

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Start talking now to your fellow real estate property buyers at Regina Mare in Tzarevo, Bulgaria!

Below are a selection of the most recent messages posted for this development. To read all the posts, contribute your own and view and share progress photos, please regsiter above and log in.

DISCLAIMER: All opinions posted on these message boards are the opinion solely of the poster and do not necessarily reflect the opinion of Eye on Worldwide, its servants or agents.

Message	Posted by
I am grateful for finding this site and meeting up with the potential buyers. My wife and I went out with MRI last October having looked at older property in the area on a previous visit. The plan was just to have a project. We liked the real Bulgarians but some of the area’s were just to many years away from civilisation. New property was the best option. I took my brother out with me as he too had some spare cash to invest. However looking beyond this the area is first class and we set our sights on 4 studios for rental on the development over the road. Regina mare was for us and family /friends. Time was spent picking one we would be happy with and plumbed for one with a larger balcony. Back at the hotel we heard whispers that MRI’s projections were not quite what we had been told . I was advised to check, some research later found the predictions to be extremely far of the mark both with the capital gain and the guaranteed rental income. Something I found hard to believe as the guaranteed income was a law abiding contract. We decided to cool the investment, just dip the toe in the water with our own apartment. If we lost out at least we had a bolthole on the beach. Now very wary after paying 40% with little paperwork to show for it I nervously went back in May. The location is still superb, the roads a mess and the beach was bare. The building was up, the roof on and windows in to the 2^nd floor. I checked the workmanship on the semi finished apartments and was extremely pleased with the plastering, electrics, plumbing and the floors. The kitchen units were not brilliant, serviceable but I was expecting a little more for my money. I have not gone for the furniture pack as I believe I can get the few items I require at a better price. I have made a few contacts that will assist me in the right choices in the quest to please my wife. My concern was the time of completion. In November MRI told us it would be ready in July. After we signed it moved to August. When I went out in May this had slipped to October. I planned to go out again to see the finished article. I went to book sometime with our solicitor to assist with any peculiarities only to find the date has moved back to January. Flights are difficult at this time of year but near imposable in January. But I will make every effort to get out there ASAP. I will keep you posted	keithandjulie
What are other people's view on this development. I still think it is a good investment, but I have two minor concerns. According to MRI, only 30% is sold so far. A 70% empty development doesn't sound good with regards to their price setting. Have we overpaid for this development?? Also, late on a Friday night in June I got a phone call saying the furniture pack was payable asap. During my inspection trip with MRI I was told that it was payable on completion. How do you come up with 6000 Euros in a week?? I managed to sort it out, but other people might not have. I am concerned that this means that there is a huge liquidity shortage in the development and that may affect the standards! Thank god I have guaranteed rental income for the 2008 season! I am definately going to go there myself to inspect and sign the deeds instead of allowing the solicitors to do it on my behalf!	einarp

Message

Posted by

I am grateful for finding this site and meeting up with the potential buyers. My wife and I went out with MRI last October having looked at older property in the area on a previous visit. The plan was just to have a project. We liked the real Bulgarians but some of the area’s were just to many years away from civilisation. New property was the best option. I took my brother out with me as he too had some spare cash to invest. However looking beyond this the area is first class and we set our sights on 4 studios for rental on the development over the road. Regina mare was for us and family /friends. Time was spent picking one we would be happy with and plumbed for one with a larger balcony.

Back at the hotel we heard whispers that MRI’s projections were not quite what we had been told . I was advised to check, some research later found the predictions to be extremely far of the mark both with the capital gain and the guaranteed rental income. Something I found hard to believe as the guaranteed income was a law abiding contract.

We decided to cool the investment, just dip the toe in the water with our own apartment. If we lost out at least we had a bolthole on the beach.

Now very wary after paying 40% with little paperwork to show for it I nervously went back in May. The location is still superb, the roads a mess and the beach was bare. The building was up, the roof on and windows in to the 2^nd floor. I checked the workmanship on the semi finished apartments and was extremely pleased with the plastering, electrics, plumbing and the floors. The kitchen units were not brilliant, serviceable but I was expecting a little more for my money. I have not gone for the furniture pack as I believe I can get the few items I require at a better price. I have made a few contacts that will assist me in the right choices in the quest to please my wife.

My concern was the time of completion. In November MRI told us it would be ready in July. After we signed it moved to August. When I went out in May this had slipped to October. I planned to go out again to see the finished article. I went to book sometime with our solicitor to assist with any peculiarities only to find the date has moved back to January. Flights are difficult at this time of year but near imposable in January. But I will make every effort to get out there ASAP. I will keep you posted

keithandjulie

What are other people's view on this development. I still think it is a good investment, but I have two minor concerns. According to MRI, only 30% is sold so far. A 70% empty development doesn't sound good with regards to their price setting. Have we overpaid for this development??

Also, late on a Friday night in June I got a phone call saying the furniture pack was payable asap. During my inspection trip with MRI I was told that it was payable on completion. How do you come up with 6000 Euros in a week?? I managed to sort it out, but other people might not have. I am concerned that this means that there is a huge liquidity shortage in the development and that may affect the standards!

Thank god I have guaranteed rental income for the 2008 season!

I am definately going to go there myself to inspect and sign the deeds instead of allowing the solicitors to do it on my behalf!

einarp

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